Reflecting the effects of the COVID-19 pandemic, hotels in the Asia Pacific region reported a significant decline in occupancy but fairly steady room rates during February 2020, according to data from STR.
U.S. dollar constant currency, February 2020 vs. February 2019
- Occupancy: -37.7% to 41.2%
- Average daily rate (ADR): +1.9% to US$107.35
- Revenue per available room (RevPAR): -36.5% to US$44.27
The Asia Pacific region was the first to show a significant COVID-19 hotel performance impact. STR continues to monitor the situation and issue preliminary data press releases, such as one specific to Melbourne performance through 8 March. More information, including recent Asia Pacific webinars and analysis articles, can be found here.
In February specifically, China’s occupancy dropped 75.9% to an absolute level of 14.0%. Also of note, Singapore was down 46.9% to 46.4%; South Korea dropped 30.0% to 42.7%; and Japan fell 22.4% to 64.7%.
At the market-level, Sanya’s occupancy plummeted 89.8% to 7.8%. Shanghai was down 82.0% to 9.7%. Hong Kong fell 73.0% to 24.0%.